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PENNIES & PROFIT!

One financial planner I know—uses a strategy that makes his presentations or reveals memorable and profitable. Why? Because Rick has mastered the art of involvement. Rick’s clients are wealthy, high net-worth individuals, sophisticated decision-makers.

Yet, Rick is the first to admit his approach isn’t sophisticated. If anything, it’s simplistic. It’s also incredibly effective. Here’s what Rick does.

He takes out a plush felt bag filled with pennies. He gently hands the bag to his clients and tells them the bag represents their “financial future.” He then encourages them to pour the pennies onto the conference table. Somewhat skeptically, they do.

Rick then tells his clients (let’s call them Harry and Pam) that each penny represents $10,000 and belongs to them—it’s their money. Rick suggests they push, pull and slide the pennies across the table to form different piles. Each pile or category represents the couple’s goals. One pile could be a retirement fund. Another could be set aside for their kids’ or grandkids’ education. While another represents a major purchase down the road or significant contributions to various charities.